Northwest & Ethical Investments L.P. Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Northwest & Ethical Investments L.P. increased its stake in The Home Depot, Inc. (NYSE:HD) by 186.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,605 shares of the home improvement retailer’s stock after acquiring an additional 4,300 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Home Depot were worth $2,676,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HD. Jacobs Levy Equity Management Inc. bought a new stake in Home Depot in the first quarter worth about $430,000. Abich Financial Wealth Management LLC lifted its stake in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Bright Futures Wealth Management LLC. purchased a new position in Home Depot during the 1st quarter valued at $257,000. GAMMA Investing LLC grew its position in Home Depot by 35.6% in the 2nd quarter. GAMMA Investing LLC now owns 17,972 shares of the home improvement retailer’s stock valued at $6,187,000 after acquiring an additional 4,714 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Home Depot by 0.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 114,512 shares of the home improvement retailer’s stock worth $39,420,000 after purchasing an additional 366 shares during the period. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. DA Davidson upped their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Truist Financial lifted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.5 %

NYSE:HD opened at $429.51 on Friday. The company has a market capitalization of $426.66 billion, a P/E ratio of 29.18, a PEG ratio of 2.97 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $439.37. The firm has a fifty day simple moving average of $407.48 and a 200-day simple moving average of $371.81.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.